Sanyo Chemical Industries Ltd. Reports Unaudited Consolidated Earnings Results for the Six Months Ended September 30, 2015; Announces Dividend for the First Half of Fiscal 2016; Revised Consolidated Earnings Guidance for the Year Ending March 31, 2016; Provides Dividend Guidance for Fiscal 2016
November 23, 2015
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Sanyo Chemical Industries Ltd. reported unaudited consolidated earnings results for the six months ended September 30, 2015. For the quarter, the company reported net sales of ¥78,433 million compared to ¥82,317 million, operating income of ¥6,019 million compared to ¥3,400 million, profit attributable to owners of parent of ¥3,599 million or ¥32.64 per share compared to ¥2,277 million or ¥20.65 per share, income before income taxes and minority interests of ¥6,204 million compared to ¥3,520 million for the last year. Net sales decrease mainly by appropriate sales price to respond to a fall in raw materials costs. In terms of profit, however, Sanyo Chemical Group recorded increases from the same period of the previous fiscal year because of depreciation of the yen, a fall in raw material costs and cost down measurement, and other factors. Net cash provided by operating activities amounted to ¥12,889 million against ¥5,775 million a year ago. This result was mainly due to the cash inflow from income before income taxes and minority interests of ¥6,204 million, depreciation and amortization of ¥4,368 million, and the decrease in notes and accounts receivable-trade of ¥3,560 million, which outweighed the outflow from the decrease in notes and accounts payable-trade of ¥1,481 million and the decrease in income taxes paid of ¥1,062 million. Purchase of non-current assets were ¥5,638 million against ¥3,800 million a year ago.
For the first half of fiscal 2016, the company announced a dividend of ¥8.00 per share compared to ¥7.50 a year ago.
For the year ending March 31, 2016, the company expects to pay a dividend of ¥8.00 per share compared to ¥8.00 per share a year ago.
The company revised consolidated earnings guidance for fiscal year ending March 31, 2016. On consolidated basis, the company expects net sales of ¥158,000 million, operating income of ¥12,000 million, ordinary income of ¥13,000 million and net income of ¥7,500 million or ¥68.02 per share compared to net sales of ¥165,000 million, operating income of ¥11,000 million, ordinary income of ¥11,500 million and net income of ¥7,000 million or ¥63.49 per share as previously forecasted.
SANYO CHEMICAL INDUSTRIES, LTD. is mainly engaged in the manufacture and sale of chemicals and related products. The Chemical Products segment manufactures and sells the surfactants for living and health industry, the polyurethane foam materials for petroleum oil and transportation equipment industry, the permanent antistat, pigment dispersant and resin modifier for plastic and textile industry, the toner binders for copiers in information and electronics industry, as well as the polymer flocculants for wastewater treatment in environment and housing industry. The Others segment is involved in the provision of delivery and warehousing services, insurance and travel agency services, as well as the residential real estate trading.
Sanyo Chemical Industries Ltd. Reports Unaudited Consolidated Earnings Results for the Six Months Ended September 30, 2015; Announces Dividend for the First Half of Fiscal 2016; Revised Consolidated Earnings Guidance for the Year Ending March 31, 2016; Provides Dividend Guidance for Fiscal 2016